Immunome (NASDAQ:IMNM) Stock Price Up 9.8% – Should You Buy?

Immunome, Inc. (NASDAQ:IMNM)’s stock price rose 9.8% during mid-day trading on Friday . The company traded as high as $6.76 and last traded at $6.81. Approximately 314,708 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 892,587 shares. The stock had previously closed at $6.20.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $33.00 price objective on shares of Immunome in a report on Thursday, March 20th. Lake Street Capital assumed coverage on shares of Immunome in a research report on Wednesday, April 2nd. They set a “buy” rating and a $23.00 price objective for the company. Guggenheim dropped their price objective on shares of Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Lifesci Capital began coverage on shares of Immunome in a research report on Tuesday, March 11th. They set an “outperform” rating and a $20.00 target price on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $30.00 price target on shares of Immunome in a research report on Thursday, March 20th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunome currently has a consensus rating of “Buy” and an average target price of $25.14.

Immunome Trading Up 14.5 %

The stock has a market capitalization of $617.35 million, a PE ratio of -0.88 and a beta of 2.05. The business’s 50 day moving average is $8.56 and its 200 day moving average is $10.60.

Immunome (NASDAQ:IMNM) last released its earnings results on Wednesday, March 19th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. The business had revenue of $2.74 million for the quarter, compared to the consensus estimate of $3.07 million. As a group, analysts anticipate that Immunome, Inc. will post -2.21 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jean Jacques Bienaime bought 7,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were acquired at an average cost of $8.21 per share, for a total transaction of $57,470.00. Following the purchase, the director now directly owns 23,615 shares of the company’s stock, valued at approximately $193,879.15. The trade was a 42.13 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Clay B. Siegall purchased 137,100 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were bought at an average cost of $7.29 per share, with a total value of $999,459.00. Following the purchase, the chief executive officer now directly owns 806,736 shares of the company’s stock, valued at approximately $5,881,105.44. This represents a 20.47 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 306,400 shares of company stock worth $2,322,995 over the last quarter. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IMNM. Wellington Management Group LLP grew its position in shares of Immunome by 137.1% during the 3rd quarter. Wellington Management Group LLP now owns 140,690 shares of the company’s stock worth $2,057,000 after buying an additional 81,354 shares in the last quarter. XTX Topco Ltd bought a new position in Immunome during the 3rd quarter worth about $363,000. Barclays PLC increased its position in Immunome by 125.9% during the 3rd quarter. Barclays PLC now owns 105,886 shares of the company’s stock valued at $1,547,000 after purchasing an additional 59,016 shares during the period. Geode Capital Management LLC raised its holdings in Immunome by 13.6% in the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock worth $17,657,000 after purchasing an additional 144,557 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Immunome by 4.1% during the third quarter. Lord Abbett & CO. LLC now owns 450,280 shares of the company’s stock valued at $6,583,000 after buying an additional 17,566 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

About Immunome

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.